Ohio Valley Banc (NASDAQ:OVBC) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Ohio Valley Banc (NASDAQ:OVBC) from a hold rating to a buy rating in a research note published on Monday morning.

Ohio Valley Banc Trading Down 0.4%

NASDAQ:OVBC opened at $35.66 on Monday. The stock has a market cap of $167.99 million, a price-to-earnings ratio of 15.37 and a beta of 0.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89. Ohio Valley Banc has a 1 year low of $19.35 and a 1 year high of $40.99. The business has a fifty day moving average of $32.77 and a 200-day moving average of $28.19.

Ohio Valley Banc (NASDAQ:OVBC) last released its earnings results on Friday, April 25th. The bank reported $0.94 EPS for the quarter. The firm had revenue of $16.79 million for the quarter. Ohio Valley Banc had a net margin of 12.37% and a return on equity of 7.44%.

Ohio Valley Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, May 10th. Stockholders of record on Friday, April 25th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, April 25th. This is an increase from Ohio Valley Banc’s previous quarterly dividend of $0.22. Ohio Valley Banc’s payout ratio is currently 34.33%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Fourthstone LLC raised its holdings in shares of Ohio Valley Banc by 195.1% in the 4th quarter. Fourthstone LLC now owns 50,132 shares of the bank’s stock worth $1,214,000 after purchasing an additional 33,145 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Ohio Valley Banc by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 91,075 shares of the bank’s stock worth $2,205,000 after purchasing an additional 1,099 shares in the last quarter. Empowered Funds LLC increased its stake in Ohio Valley Banc by 6.4% in the 1st quarter. Empowered Funds LLC now owns 9,302 shares of the bank’s stock worth $242,000 after purchasing an additional 558 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Ohio Valley Banc during the 1st quarter worth about $232,000. 22.06% of the stock is owned by institutional investors and hedge funds.

About Ohio Valley Banc

Ohio Valley Banc Corp. operates as the bank holding company for The Ohio Valley Bank Company that provides commercial and consumer banking products and services. The company operates in two segments, Banking and Consumer Finance. It accepts various deposit products, including checking, savings, time, and money market accounts, as well as individual retirement accounts, demand deposits, NOW accounts, and certificates of deposit.